Group Life Insurance

group--life

  • A blanket policy which provides an umbrella cover (Equal Death cover for all employees/members)
  • Suitable for businesses and institutions with over 25 staff members
  • Very low premium in comparison to individual life cover
  • Any Rider benefit can be added i.e. CIC, HCB,ADB,TPD,EPD

Group Life Assurance is a blanket policy, which provides an umbrella cover for many lives under one policy. Any groups of persons coming together for the sole purpose of obtaining this cover will not qualify this scheme. The structure, basis of administration and operation of the Group Insurance Scheme is such that it allows heavy discounts on the insurance premiums chargeable, when compared with individual insurance covers and therefore required all members to be part of the same place of employment. Accordingly, this can be arranged for employees (if over 10 members)of an organization at a comparatively low cost while providing the employee with a greater sense of security. The following covers are available on a group basis:

  • Death Benefits
  • Critical Illness Benefit
  • Accidental Death Benefit
  • Total /Partial and Permanent Disability Benefits (due to accident or sickness)
  • Hospital Cash Benefit

The policy is renewable annually and the age requirement for members of the policy is between 18 - 60 years.

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